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Business Taxes
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May the cost of Machinery and Equipment be included in eligible investment if moved to the Eligible property from another location?
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Answer:
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No, the cost of Machinery and Equipment may not be included in eligible investment if moved to the Eligible property from another location. The addition of machinery, equipment and fixtures to eligible property is an eligible investment if the machinery, equipment or fixture is physically added or installed on or to the eligible property after the date that a preapproval letter for the project has been issued and the property in question is new or purchased from a licensed broker of used equipment. The cost of the eligible investment for which a credit may be claimed is the cost paid or accrued after the date the preapproval letter has been issued. There is no cost paid or accrued if the machinery or equipment is moved from another location.
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